Ondo

Franklin

Robinhood

would

When <a href="https://www.thestreet.com/crypto/markets/ondo-brings-over-100-tokenized-u-s-stocks-and-etfs-on-chain" rel="noopener noreferrer nofollow">Ondo Global Markets launched in September 2025</a>, it became the largest tokenized equity platform in the world within 48 hours. Within eight months, it <a href="https://www.prnewswire.com/news-releases/ondo-global-markets-surpasses-1-billion-in-total-value-locked-a-first-for-tokenized-stocks-302768520.html" rel="noopener noreferrer nofollow">had crossed $1 billion in total value locked</a> — a milestone worth putting in context. Stablecoins took roughly three years to hit $1 billion. <a href="https://ondo.finance/ousg" rel="noopener noreferrer nofollow">Tokenized Treasuries</a> took about two. <a rel="noopener noreferrer nofollow">Tokenized stocks</a> did it in eight months.
The platform now offers more than 260 tokenized U.S. stocks and ETFs across Solana, Ethereum, and BNB Chain. Each token is fully backed by the underlying security, held inside a U.S.-registered broker-dealer, and tracks total return including dividends. Trading runs 24 hours a day, five days a week.
<a href="https://www.thestreet.com/crypto/markets/ondo-and-broadridge-partner-to-enable-voting-for-tokenized-stocks" rel="noopener noreferrer nofollow">Related: Ondo and Broadridge partner to enable voting for tokenized stocks</a>
<h2 id="what-is-a-tokenized-stock">What is a tokenized stock?</h2>
A tokenized stock is a digital version of a real stock or ETF that lives on a blockchain.
The appeal is straightforward — millions of people outside the United States have built wealth through crypto but have had no easy way to diversify into American stocks without opening a foreign brokerage account or dealing with paperwork.
Ian De Bode, President of <a href="https://www.thestreet.com/crypto/tag/ondo" rel="noopener noreferrer nofollow">Ondo Finance</a>, explains the demand simply while speaking to TheStreet <a rel="noopener noreferrer nofollow">Roundtable</a>:
"There's a lot of wealth globally — people made money on Bitcoin, ETH, BNB, it doesn't really matter. They have that wealth sitting in crypto exchanges. They want to be able to diversify it into other stuff, but historically they never could. Now with these tokenized stocks coming in, it's just a very seamless experience for them."
Ondo's assets are listed on Binance, Gate, MetaMask, and Phantom. The volumes, De Bode says, just keep pouring in week over week.
<h2 id="growing-at-3-to-5-every-week">Growing at 3 to 5% every week</h2>
Since launch, Ondo has been adding roughly 3 to 5% in TVL every single week. The <a href="https://www.thestreet.com/crypto/markets/ondo-global-markets-hits-record-tvl-becomes-top-tokenized-securities-platform" rel="noopener noreferrer nofollow">platform hit $240 million within two weeks</a> of launch, crossed $500 million by January 2026, and doubled again by May.
The broader tokenized assets market has grown 47% year-to-date — significantly outpacing every major traditional benchmark. For comparison, the S&amp;P 500 is up 5%, the NASDAQ 7%, the Dow Jones 3%, and U.S. bonds just 0.3%.
It now holds over <a href="https://app.rwa.xyz/" rel="noopener noreferrer nofollow">70% market share</a> among tokenized equity issuers and has processed more than $18 billion in cumulative trading volume, according to RWA.xyz.
When asked where the market lands by year-end, De Bode was direct:
"At the end of 2026, at the current run rate with some of the stuff we're shipping — I would call it two and a half, three billion."
That would represent close to 100% growth from the current global TVL of $1.5 billion for tokenized equities. But De Bode believes that figure barely scratches the surface.
"A single brokerage platform like Robinhood — I think last time I checked they had around $350 billion in AUC. That's just one platform. You start looking at the Charles Schwabs of the world and it's just much larger. If you can really crack that nut — sky's the limit. You're talking hundreds of billions before you know it."
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<h2 id="the-institutions-that-changed-everything">The institutions that changed everything</h2>
What separates Ondo from tokenized equity projects that came before it — most of which stalled below $100 million — is who is now building alongside it.
In May 2026, <a href="https://www.thestreet.com/crypto/innovation/ondo-jpmorgan-mastercard-ripple-complete-cross-border-treasury-redemption" rel="noopener noreferrer nofollow">Ondo completed the first-ever cross-border redemption</a> of tokenized U.S. Treasuries with J.P. Morgan, Mastercard, and Ripple, settling in under five seconds. <a href="https://www.thestreet.com/crypto/investing/franklin-templeton-to-launch-24-7-trading-for-equity-gold-etfs" rel="noopener noreferrer nofollow">Franklin Templeton</a> has tokenized five of its ETFs through Ondo. And <a href="https://www.broadridge.com/press-release/2026/broadridge-and-ondo-bring-shareholder-voting-capabilities-to-tokenized-securities" rel="noopener noreferrer nofollow">Broadridge</a>, which processes trillions in shareholder communications every year, partnered with Ondo in April to bring proxy voting on-chain for the first time — giving holders of more than 250 tokenized stocks and ETFs the ability to vote directly from their wallets.
The <a href="https://cryptobriefing.com/ondo-finance-sec-no-action-dtcc-consortium/" rel="noopener noreferrer nofollow">DTCC has brought Ondo</a> into its <a href="https://ondo.finance/ousg" rel="noopener noreferrer nofollow">tokenized securities</a> consortium alongside BlackRock and Goldman Sachs, with production trades beginning July 2026.
Ondo has also <a href="https://www.prnewswire.com/news-releases/ondo-global-markets-surpasses-1-billion-in-total-value-locked-a-first-for-tokenized-stocks-302768520.html" rel="noopener noreferrer nofollow">secured regulatory approval</a> to offer tokenized stocks and ETFs across 30 European countries in the EU and EEA, opening the platform to more than 500 million additional investors.The regulatory moves most people missed
<h2 id="the-regulatory-moves-most-people-missed">The regulatory moves most people missed</h2>
Ondo <a href="https://ondo.finance/blog/ondo-global-markets-files-registration-statement-with-sec" rel="noopener noreferrer nofollow">has confidentially filed a registration statement</a> with the SEC that would make it the first issuer of transferable tokenized stocks subject to full SEC reporting requirements.
It has also acquired a U.S. broker-dealer to handle compliance directly — moves that signal <a href="https://www.thestreet.com/crypto/tag/ondo" rel="noopener noreferrer nofollow">Ondo</a> is trying to become part of the regulated system, not work around it.
De Bode believes the real acceleration comes when the on-chain experience becomes genuinely better than a traditional brokerage account.
"The tokenized stock — I can freely move it around. Can I use it for margin 24/7? Can I use this thing as collateral on other platforms? When all of that stuff takes off, I think the hockey stick may even accelerate."
<a href="https://www.thestreet.com/crypto/markets/ondo-exec-explains-how-perpetual-futures-stay-in-line-with-spot-prices" rel="noopener noreferrer nofollow">Related: Ondo exec explains how perpetual futures stay in line with spot prices</a>

Ondo Finance exec sees tokenized stocks hitting $3B by year-end

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TheStreet Roundtable

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